Daily Stock Pick
WATCH: Stock pick — Brait
Only on Business Day TV DStv Channel 412
20 November 2017 - 08:35
Kyle Burgess from Nedbank Private Wealth chose Brait (R43.47/-2.91%) as his stock pick of the day. He said that although the stock price was down, the company had achieved a lot. It had written down New Look to “absolutely nothing” and the stock was now trading at around R45, with the net asset value “just north of R66 a share”, meaning there was a healthy discount built in. Virgin active was doing fairly well and had closed its underperforming clubs. The group had a concentration of clubs around London and other metropole areas, especially in Asia.
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